Merchant Cash Advance Defense
Are you at risk of defaulting on your merchant cash advance agreement? If so, don’t panic. Contact our office right away, as we provide merchant cash advance relief services to clients across America. Our team stands ready to fight for you and allow you to keep your business up and running even as you work to repay your debt. We understand the different merchant cash advance legal issues our clients face and leverage our experience to help you restructure the cash advance before you default. The sooner you contact us, the sooner we get to work handling this matter on your behalf.
Determining the Best Course of Action
An experienced merchant cash advance attorney helps clients determine how to handle the debt issue in a way that is most favorable to the client. Clients might assume their only option is bankruptcy. Others, however, take steps in an effort to get the business back on solid financial footing before addressing the default notice. Doing so often leads to additional legal problems, so it’s best to work with a MCA lawyer to prevent this from happening. For instance, a business should never accept cash as a way to avoid depositing money into their bank account where the creditor can seize it. This illegal action harms businesses more than helping them.
Options Available to Debtors
Small business loans offer relief from overwhelming debt but often come with high-interest rates that set the business back further. Unsecured business loans might appear to be a good option when they truly aren’t for similar reasons. When possible, business owners need to work with their provider to avoid possible default on a merchant cash advance, and our team handles this on behalf of clients every day. We review the MCA agreements to determine whether cash advance payments can be reduced to protect the business and the owner’s livelihood. What many business owners fail to realize is merchant cash advance services provider remain legally obligated to work with their clients to restructure the payments so the owner won’t default. If a provider refuses to work with the client to create a new payment plan, they may be in breach of contract. As a result, the legal system could halt all collections activities and declare the MCA agreement to be an illegal loan. Our team aggressively works to create this restructured payment plan and represents the client in legal action if an MCA provider fails to take this step.
Business owners often ask, “What happens when you default on a merchant cash advance loan?”
What they really need to be focusing on is how to repay the funds owed while keeping their business up and running. This remains our goal at all times. Our legal team brings years of experience to every case we take on and fights to keep your business open and operating. Time is of the essence when you fall behind on these payments. Contact us today if you're struggling or having any merchant cash advance legal issues so we can get you back on track. We protect your rights while ensuring the MCA provider remains within the law with all steps it takes. The average business owner isn’t familiar with the options available, but we are. For this reason, you should never take on the provider alone. Our merchant cash advance attorneys always have you in their best interest and we stand ready to help in any way we can. We provide top notch merchant cash advance relief which is why our clients declare us to be the best.